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"Hopefully Binance still has all the money customers deposited and didn't lose it or trade it for magic beans like FTX did." Of course they don't have all the
by TheAlchemist 4y ago
"Hopefully Binance still has all the money customers deposited and didn't lose it or trade it for magic beans like FTX did."
Of course they don't have all the money ! If they had, they wouldn't be targeted by virtually all financial regulators on the planet and they would publish a real audit.
- jackstraw14 4y agoIf they had money they would publish an audit, even if not required to do that to continue operations?
- piva00 4y agoIf they cared about building trust in an industry based on confidence, yes?
- justinclift 4y agoI think you missed the word "tricks" in there. eg -> ... "an industry based on confidence tricks".
- tenpies 4y agoI agree with your first point, but realistically, is there any audit that would satisfy its critics? If the Western governments want to take you down, no amount of words on a piece of paper sprinkled with legal incantations is going to stop them. They'll just decide something you did which was legal, is now illegal and go from there. Your only real option is to abandon that sinking ship and let the captain feel in control. Years later when the population is on life rafts and they've elected a new competent captain, you can return.
- pibechorro 4y agoyou really think that is why they are targeted? cute. its about control.